On loyalty point schemes and blockchains

Over the past year I’ve been asked my thoughts about ‘loyalty points on blockchains’ many times. The thinking seems to be bitcoin -> digital currency -> digital tokens -> loyalty points and at first pass it feels like a natural extension of a theme. People read about cryptocurrency trading and interoperability then think “Wouldn’t it be really cool if I could exchange my loyalty points for other ones, or if I could buy and sell them with real money?”.

This post attempts to describe how I understand the purpose of loyalty points, and in this context, how applicable blockchains are as a technical solution.

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On KYC and blockchains


INTRODUCTION


It’s official: Blockchains for everything!

KYC is a challenge that blockchains are being thrown at (see here, here, here). The premise is “KYC is a headache and blockchains are trendy”. However there is rarely much detail on the problem and insight as to why a blockchain might or might not be a good idea. I aim to explore this use-case more fully in this post.

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